ING Real Estate acquired nineteen retail properties in prime locations in the Netherlands from WE Vastgoed for an amount of 28 million. The total portfolio has a gross lettable area of 7,000 m². Eight properties are leased long term to WE Netherlands as part of a sale and lease back transaction.
Nine properties will be added to the ING Dutch Retail Fund. Ten properties have been acquired by the ING Real Estate Woning-Winkel Fonds III CV, which is expected to close on 28 December 2005.
Source: ING Real Estate